Final Department of Labor Rules Open the Door for States to Move Forward with Retirement Initiatives

Nearly half of all U.S. workers do not have access to any type of employer-based retirement account. Many states concerned about the huge gap between the amounts their citizens are currently saving and what they’ll need for a secure retirement are pursuing solutions, but thorny legal questions have hampered efforts – until now. This issue brief summarizes recently released federal rules creating new ways for states to expand retirement coverage for private-sector workers, and highlights the tradeoffs state policymakers will face when deciding which of these new avenues to pursue.